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Tag Archives: Chinas

China’s Central Bank Warns Investors of ICO, Crypto Risks

China’s central bank, the People’s Bank of China (PBoC), has today, September 18, issued a new public notice “reminding” investors of the risks associated with Initial Coin Offerings (ICOs) and crypto trading. The notice, released from the bank’s headquarters in Shanghai, reiterates the severe line that has been adopted by the country’s Office for Special Remediation of Internet Financial Risks, ...

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China’s crypto custody sector is growing despite the mainland ban

The debate on whether the central authorities can ever regulate the cryptocurrency industry intensates further with the launch of a Chinese crypto-startup. In a right-in-your-face stunt, InVault begins offering its cryptocurrency custody services last week in China despite the mainland ban. The Shanghai startup proposes to attract cryptocurrency exchanges as its primary clients, believing they should avoid the moral hazard ...

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China’s Central Bank-Backed Blockchain Trade Finance Platform Pilot Kicks Off in Shenzhen

A new trade and finance blockchain platform, backed by the People’s Bank of China (PBoC), has started official pilot operations in Shenzhen, local news outlet 21jingi reports September 12. The “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform” aims to provide a blockchain-powered ecosystem for cross-border trading across Guangdong, Hong Kong, and Macau Bay Area. The platform ...

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Crypto Exchanges are Evading China’s Ban by Changing Domain Names

Despite the rise in control measures over cryptocurrency trading, observers are almost certain that Chinese investors will continually skirt the ban, which makes it nearly impossible for authorities to shut down trading entirely, per reports from the South China Morning Post (SCMP.) SCMP references an earlier story published on the Shanghai Securities Times which reported that trading authorities were beefing ...

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China’s Supreme Court Rules That Blockchain Can Legally Authenticate Evidence

China’s Supreme Court has ruled that evidence authenticated with blockchain technology is binding in legal disputes, in an official announcement released today, September 7. The new ruling comes as part of a series of more comprehensive rules that clarify litigation procedures for internet courts across China, and comes into force immediately. According to today’s announcement, the Supreme Court declares that: ...

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China’s Ban on Crypto Continues

China’s ban on crypto continues across the country as the Guangzhou Development District is next to be hit. What’s going on? China’s Ban on Crypto Continues Last week, a very similar ban was imposed in Beijing’s Chaoyang district, whereby venues were handed out fliers detailing a prohibition against commercial venues hosting crypto-related events. Venues such as hotels, bars, and clubs ...

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China’s Ban on Crypto Continues

China’s ban on crypto continues across the country as the Guangzhou Development District is next to be hit.  What’s going on? China’s Ban on Crypto Continues Last week, a very similar ban was imposed in Beijing’s Chaoyang district, whereby venues were handed out fliers detailing a prohibition against commercial venues hosting crypto-related events. Venues such as hotels, bars, and clubs ...

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China’s Baidu Joins Tech Giants Tencent, Alibaba in Imposing Fresh Anti-Crypto Measures

Chinese tech giant Baidu has joined Tencent and Alibaba in imposing new anti-crypto measures in line with Beijing’s toughened stance, South China Morning Post (SCMP) reports Monday, August 27. China’s ‘Google,’ Baidu, has closed at least two popular crypto-related chat forums, according to SCMP, with a notice reportedly informing users that the move comes “in accordance with relevant laws, regulations ...

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China’s Crackdown Leads to WeChat Blocking Crypto Transactions

In support of the Chinese government’s tightening clampdowns on local crypto-industry, a mobile payment giant has decided to bar virtual currency transactions on its platform. WeChat Pay on Friday issued a statement stating that they would prohibit users from sending or receiving funds related to cryptocurrencies on its social media platform. The Tencent-backed firm cleared that their firm does not ...

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China’s Payments Giant AliPay Takes Measures Against OTC Crypto Trading via Its Platform

Chinese mobile payment app Alipay is toughening its stance towards users who use their Alipay accounts for over-the-counter (OTC) Bitcoin (BTC) trading, Beijing News website reports August 24. The overwhelmingly popular Alipay counted 400 million users as of August 2017, and is run by Alibaba affiliate Ant Financial, which has recently been valued as high as $150 billion. According to ...

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